US First Lady Melania Trump has resumed promoting her Solana-based memocoin, Melania Mate (Melania), after months of silence.
On Thursday’s X-Post, Trump returned with an artificial intelligence-generated video to promote the official Mellarian Meme token as a “to the future” pass, tagging the official X-account for Memocoin.
However, blockchain analysts quickly realized that the promotion had not addressed concerns about token sales by team wallets.
“Melania Trump won’t deal with the $10 million community tokens sold by Team Wallet. After 10 months of silence, he just posts an AI video,” Blockchain Data Visualization Platform Bubblemaps said in the X-Post Thursday.
On April 7, the team behind Melania Token moved a $30 million worth of community fund “which was being sold quietly without explanation from the team,” according to blockchain data shared by Bubblembaps.
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Additionally, the team behind the tokens sold another $1.5 million worth of tokens over the three days ending April 28th.
According to the Crypto Intelligence Platform lookonchain, sales patterns point to the dollar average (DCA).
The Cointelegraph reached out to President Donald Trump and the First Lady’s office for comment.
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Melania tokens are down 98% from their all-time high
The Melania Token has lost almost all of its value since its launch in January. According to CoinmarketCap, the coin fell more than 90% at $0.18 at the time of writing, a record high of over 98%.
Hayden Davis, one of the founders behind the Libra token, was also a co-creator of the Melania Token and many other memokines in the 2025 cycle.
In March, Davis launched Wall Street-themed Memo Coin with an insider supply of over 80%, with the token crashing 99% within two days.
This came a few weeks after the collapse of the Libra token. There, eight insider wallets cashed in liquidity of $107 million, resulting in a wipeout of $4 billion in market capitalization within hours.
https://www.youtube.com/watch?v=sumyysrjvzm
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